Section 123.207 - Fiduciary Powers A credit union may:
(1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;(2) receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;(3) act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;(4) accept, execute, and administer a trust as trustee;(5) accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or(6) act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1236,Sec. 20.012, eff. 9/1/2015. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.